SK Hynix to invest $74.6 billion in AI memory chip technology over next three years

Odaily News SK Hynix, South Korea's second-largest chipmaker, will invest $74.6 billion over the next three years to focus on the development of AI memory chip technology. Its parent company SK Group also plans to raise another $57.8 billion by 2026 to further support its AI business. According to Reuters, SK Group has recently suffered heavy losses on Hynix and its electric vehicle battery subsidiary. If the second round of funds is successfully raised, the total investment will be close to $133 billion. SK Hynix's current market value is only about $118 billion. SK Group believes that these investments and the sharp focus on AI technology will help to offset losses and ensure the company's financial future. In addition, SK Group plans to reduce the number of subsidiaries, which currently exceeds 175, to streamline operations and achieve its goals. SK Group expects that through the current investment strategy, its profits will increase from an estimated $16 billion in 2024 to nearly $30 billion by the end of 2025. (Cointelegraph)